Shares of banks and other financial institutions rose sharply as traders bet elevated interest rates, booming financial markets and a dovish Federal Reserve would be a profitable combination for the sector.
UBS Group said Sergio Ermotti is set to stay as chief executive officer to see through the integration of rival Swiss bank Credit Suisse, and sought to address concerns about its size and potential needs for tighter regulation.
FTX founder Sam Bankman-Fried was sentenced Thursday to 25 years in prison for fraud tied to the collapse of his digital exchange, capping the onetime crypto king's meteoric rise and fall.
Two affiliates of brokerage Stifel Financial agreed to pay nearly $2.3 million to settle allegations that they failed to adequately supervise the sale of complex exchange-traded products and ensure they were suitable investments for clients.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
03-28-24 1732ET
